Applied Integration Rules and Performance – What is Learned, Applied and Intended in Acquisitions

Research suggests that M&A performance improves through routinization and codified experience. Traditionally, acquisition research has drawn a direct link between routinization and performance. However, the question remains how lessons learned are captured in codified experience and routinization and are applied in subsequent events. We argue that codified experience and routinization (“what is learned”) are distinct from each other, but are likely deployed jointly via formal and informal rules (“how it is applied”). Combined, we look at the relationship of “what is learned” and “how it is applied” and the consequences of performance. Moreover, we theorize and investigate how a strategic M&A intent influences the relationship of routinization, codified experience and rules in acquisition processes. To test our hypotheses we collected primary survey data and secondary data to ensure construct validity